7 tips for Growing Your Company

For growing into a sustainable company, Startups go through three distinct phases: Designing the product, selling the product and maintaining the business in the market. On this last phase we can take concrete actions like; evolving the product and service offerings, streamlining operations, modifying the sales organizations and others.

Here you have 7 tips for companies preparing the growing process.

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1 .Establish a customer-success team

If it hasn’t been done already, establish a customer-success team with the goal of maintaining customers for a long time. Measure and incentivize this team by gross churn.

Significant attention needs to shift from securing new customers to retaining and selling to current customers

2 . Invest in product marketing

Consider vertical sales and marketing teams based on industry, use cases and/or products. Establish a product-marketing team in charge of writing marketing requirement documents for products; these are called MRDs for products, creating sales collateral , developing customer advisory boards, messaging, and pricing, and simplifying product packaging.

There will be a diminishing productivity rate, largely because the salesforce is no longer only comprised by the founder. Counteract this by making sales easier.

3. Take a channel strategy

While a channel strategy isn’t for everyone, most companies opt for a combined direct and channel approach . It is a must to be patient, but also very critical of progress.

Determine if the channel’s sales team has the required knowledge to sell the product. Make sure they are correctly motivated to sell the product through a sales performance incentive fund , but consider compensating them in other ways, too. Allocate enough pre- and post-sales support

 4. Check product offerings

Challenge situations and consider new opportunities, including ones that would require more risks.

You can ask these questions: Can products be eliminated to double down on the successful ones? How profitable is each product line? How can the product’s market be increased? How can the average revenue per unit be grown? How can the product sales cycle be shortened to reduce the overall cost of sales?  How can post-sales maintenance costs are reduced?

5. Make tighter controls

While the company grows, the risk of losing control of spending and approval processes rise. So allocate resources to regulations and document-required. Make tighter controls that ensure compliance.

6. Open new channels of communication

Companies in the growth phase are typically large enough to switch from having two levels of management; for example, directors and vice-presidents to three levels of management, and the staff also increasing.

You can establish a culture of transparency. Schedule periodic meetings for all groups with all company  workers. Each senior executive should spend a significant portion of time to obtain an in-person assessment and encourage contact with all employees.

Challenge situations and consider new opportunities, including ones that would require more risks.

 7. Establish goals and key performance indicators in place

On the beginning Initial start-ups decisions are often made by intuition, but as the company grows, they must be checked by data collected and monitored regularly across the whole company.

Key performance indicators attainment should be shared transparently across the organization, and compensation should be tied to them also.

Leaders at every level must define and track key yearly and quarterly goals.

 BONUS TIP: Outsource the payroll

Choosing to outsource the payroll does not mean, we don’t have any blame for an unwanted situation it might occur. We can avoid investing in training and payroll software. These are reasons why choose an outsourced service is a right choice.

All we will have to do, is to provide a person with basic knowledge of the payroll function, who will be the connection with the outsource service . It is necessary a person in charge for making decisions. The outsource service like payroll in chile, has a detailed service level agreement, so we can contract the services we require from the outsource service, keeping in-house others.

 

 

Basics for reduce your Corporate Tax

Reducing tax is a wide concept. Most businesses want to contribute the tax that they owe, however they don’t want to pay more than they have to.za111

Technically it’s impossible to reduce your tax, as everyone is charged the same rate, set by the tax agency. In the case of Corporation Tax, the applicable rate is paid on your profits; the money left after all allowable deductions for expenses, salary and others, and is set depending on your profit level.

Most contractors, freelancers and small businesses pay the small profits rate, and large companies pay the main rate .The key to making sure you pay no more Corporation Tax than you have to, therefore, is making sure you take advantage of every allowable deduction and expense to give an accurate picture of your profits.

For example, If you paid 500$ for a new piece of equipment but forgot to claim it, your profits will be overstated by 500$, so you will pay 100$ depending on the profit rate, as an extra in Corporation Tax. It literally pays to stay on top of these things.

Every situation is different, and there may be deductions or allowances for your specific industry, we recommend check with a professional. There are a few basics every business owner should know to make sure they’re not paying more tax than the necessary.

Record everything

Record every train or bus ticket, and each pad of paper, because over the course of a year those items add up.

You’ll have industry-specific items to claim too, remember your tax agency rules. Basically anything you claim must be entirely for business use.

Use Gift Aid

When making a charitable donation, make sure the Gift Aid box is selected so that the charity gets the full donation tax-free. Higher rate taxpayers can claim the difference between the higher rate of tax and the basic rate of tax, on the total value to the charity of your donation.

Claim all allowances and benefits

While some benefits are being cut, make sure the state is giving you what you are owed.

Pay yourself a salary

Do not forget that you and your business are different legal entities; the money made is not yours so you need to pay yourself a salary. Also salaries are business expenses, which reduce your profit and, in turn, your Corporation Tax.

Check tax codes

Be tax aware and make sure your tax code is correct. Some people may be paying too much tax without knowing it. If a tax code is not correct, the wrong amount of tax and deductions will be made. If you think there is a problem with your tax code, contact your local tax office.

Buying new equipment

If you’re in need of a slightly heftier piece of equipment, new premises or other assets, you can take advantage of your government’s annual investment allowance; things like commercial vehicles, building fixtures and office equipment for tax purposes.

Consult a chartered certified accountant

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Tax is confusing, so when it becomes too complex to deal with you, it is an intelligent option to consult a qualified chartered certified accountant, like accounting in Chile

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Accountants: How can become themselves Essential to their Clients?

How accounting service providers can make themselves essential to their clients? This topic is useful to know. We invest time and financial resources into a whole host of accounting but the question is: Do your clients believe they cannot succeed without you? We know that our technical expertise and depth of business knowledge is what our clients value most. But another question: Is that enough?

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Many well-educated and highly skilled professionals have the credentials and real world experiences that they can apply to bring solutions to their clients, whether they grapple with complicated or simple challenges; like accounting in chile. But what makes them essential, is the connection and rapport with the clients

If however,  your clients do not have that connection with you, then you and your partners need to begin thinking about how to build that rapport, how to become indispensable to the clients you serve.

The Formula

  • Background training
  • Professional expertise

Both of them must be combined with other characteristics. Being proactive, a good listener, diligent, accessible and resourceful. It is helpful to make introductions to other leaders in the business community, facilitate valuable connections and share industry trends, including challenges and opportunities, with clients.

Also you can make a lot of things for your clients like:

  • Help them to gain some exposure in the community by introducing them to the local media
  • Nominating them for appropriate awards
  • Inviting them to speak at one of your events
  •  Write an article to publish in one of your newsletters.
  •  Planning events like a quarterly informal meeting over breakfast or dinner

All this tips can go a long way towards building a meaningful relationship and enables you to interact on a more frequent basis. It is difficult to anticipate and solve problems through an email exchange ,so pick up the phone usually.

If you want to have clients believing strongly that you are integral to their current and future sustainability and growth, you need to do more for them. The company accounting in chile, it is a good reference and an excellent role model for start-up companies or established firms.

 

Spain land of opportunities

When you have a thriving business , and you want to expand your market , it is important to have a place to open new frontiers, if its place is Spain you will need an event producer agencies spain, who can provide a method to promote and introduce your business succesfully.

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Create an event , is a great option to promote and to show that our business is the best option for customers. The importance of a company ‘s image is vital and should seek help to show that they are a good company , and that they have sufficient experience in the market .

In Spain , the best option to start a business or a product display , is in Barcelona.Barcelona is the place of opportunity , a multitude of entrepreneurs engaged in different types of technologies and products. They starts their company or product in barcelona , exposing an event with the ideas and dreams to make their business true. So you will need an event producer agencies Barcelona, which can offer you an event to present your idea or business successfully.

Bookkeeping Tips for your Business

Running a business implies a lot of documents that have to be updated and reviewed constantly. That is basic, general financial record keeping and long term planning can help us to improve and satisfy the customer needs, and keep our business working.

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The financial control is essential, without handle the financials some problems may occur, and many important things we will not know, like:

  • Matters of a tax
  • What is working and what is not working
  • Money sinks

Bookkeeping functions updated and an evaluation on time can help your business for work effectively. However, when we talk about tax it is a serious issue, because strong financial records are required for dealings with the tax authority of your country.

There you have a few tips for staying on track with your bookkeeping:

Organize your numbers

Organized and consistent records can make or break your business. You have to ask yourself some questions, like; do i have seasonal trend for my products? The prices of my products are right? Am I losing money from certain product or service I provide? For these issues financial software, can help to organize and put these types of reports together.

Control your expenses and income

Keeping a careful record of all the receipts like; mobile phone bills, invoices from your web hosting company, office supplies and travel expenses, gives a global visión of the numbers that your business do.

Also you need to record your income receipts like till rolls and PayPal records.

Get paid from your accounts receivables

One way that can help you to avoid receivable problems, is to make easier for customers to pay you, for example by accepting electronic payments and credit cards. It is up to you to invoice your customers after a sale, and get paid from past due accounts. Sometimes, cash flow problems may not be due to poor sales but down to poor accounts receivables.

Two more things

  1. Look at it as a strategic asset to your business rather than something that has to be done.
  2. Having and outsourced company like accounting in chile, realize these tasks and adapts to your company easily and rigorously. Also they can do other functions you choose like manage the payroll.??????????????????????

Tips : Choosing an Outsourced Payroll Provider

Outsourcing the payroll function can save money and time. If you’re considering outsourcing payroll, many companies regardless the size, are placing their trust in organisations like payroll chile, as a bureau, outsourced, part managed or fully-managed service. This kind of organisations extends across all market sectors in different countries.

Working together

When it comes to payroll, there are points to consider:

Track record serving businesses like yours

It is useful to know that the provider have a strong track record of serving businesses your size and has experience in your industry or sector.

Security and reliability of the provider

The security that the provider offers, is one of the most important things. After all, you are giving your payroll provider the names, social security numbers, addresses, and bank account numbers of your employees. Also do not forget you are giving a power of attorney to make filings on your behalf.

Make sure the provider is financially strong and has good controls in place, otherwise you could find your company in a bind.

Regulatory compliance capabilities

The payroll provider must have the resources to keep up with the laws and regulations around employment, healthcare and taxes.

Technology

Evaluating the payroll company’s technology, including its mobile readiness, it is an important actions.Some payroll companies are investing in new technology and they can keep up with technology as demand for it on the employer and employee side grows.

Accountant interfaces

A good payroll provider offers capabilities that go beyond what you can do on your own. Remember, today there are solutions for businesses as small as one employee.

Other service offerings

You can consider the broader services needed as your business grows, such as HR services and benefits.

Make sure, your accountant can get easy access to your payroll and related records for purposes of tax filings and reconciliation.

 

With an outsourced payroll provider your business will enjoy all the accessibility, flexibility and control of processing payroll in-house ;without having to allocate your staff, equipment, time and resources to manage it. And when it comes to reliability, accuracy, efficiency and flexibility. If you haven’t considered an outsourced solution before, a new year is a good time to consider making a switch.

7 points of Accounting Basics for Start-Up Business

The challenge of start a company is exciting, anyway there are some responsibilities like; get inventory, get business structure in order, get customers and sell your products. All that at the same time, also, you have to track important risk or metrics going out of business, within the first year. Here are 7 points that will help you to manage all:

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1-    Open A Bank Account

Open a bank account for your business; it’s necessary before it can accept payments on behalf of the company. It is very important for avoiding problems and face customer’s complaints.

Using your personal bank account for transactions can be used for a court to come after your personal assets, so it is just not worth it. To have a separate business bank account establishes that you’re a serious business owner and prevents commingling of funds.

2-    Get Invoice Templates

It is important to not forget about your invoices. To create these ones on the fly when and as you need them it is a serious mistake. You can grab invoice templates from a reputable company, customize them and save time of creating invoicing.

 3-    Make A Budget Or Outsource Your Bookkeeping

This area can be outsourced for your convenience, you have to make sure that your books are in order and the payroll is paid on time.

Outsourcing this area, keeps a track of all your expenses and the outsourced service like accounting in Chile, adapts to your company easily and rigorously. Also they can do another functions you choose like manage the payroll or improve the invoices for example.

4-    Tracking Gross And Net Margin

The gross margin is the total sales revenue of your company minus the total cost of your products or services sold. This number is then divided by the total sales revenue and expressed as a percentage. The higher the percentage, the better, because it means you’re retaining more money.

Net margins are the other half of this equation. A net margin is the ratio of net profits to your revenues.

The function of the net margin is to show profitability, however a low net profit margin usually does not mean that your company is unprofitable

5-    Quick Ratio and Current Ratio

These are two metric that are measured together and tell you how liquid your company is, explain how much money you have on hand to meet current and unexpected results or liabilities.

The quick ratio takes all of the cash in your business, along with the account receivable and divides it by the current liabilities. It’s simple but it is a way to determine how you’re working financially.

The current ratio is the measure of current assets divided by current liabilities. Tells you, whether all of your assets that can be converted in cash, within a year or right now. It could be used to satisfy all of your liabilities in under a year.

If you obtain a ratio less than one means you may end up running short on money, while a ratio of more than one, means you probably have a good surplus.

6-    Account Payable and Receivable Days

These metrics measure how quickly you’re bringing in cash and paying it out. The accounts payable days is calculated by taking the amount you owe (your liabilities) and dividing it by the cost of goods sold, multiplied by 365 days.

A higher number is better, while all other things being equal. It is used because you want to retain cash in your business for as long as possible and only pay out when you need to.

Accounts Receivable Days is calculated by dividing this account value by total sales and then multiplying by 365. Lower numbers are generally better, but again this depends on the industry. You want to obtain a low number because it means you’re collecting cash quickly and retaining is for working capital and other company purposes.

 7-    Get New Customers

 

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Your company has to make money and generate cash flow, one of your tasks is to focus constantly in get new customers so, you can market those products and services to them. It is very important to maintain good client relationships for the business.

How to act in front Warning signs of fraud in your company

Many suspicious facts can be the reason to take steps to stop theft or fraud before it goes too far. Theft and fraud in many countries has the cost of large amounts of money; can be millions of dollars in just one year. At present the laws and rules in the workplace, has a lot to manage for eliminate this “bad habits”.

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The most common types of theft in the workplace are:

  • False payroll
  • False payments and petty cash
  • Misappropriation of assets
  • Abuse of corporate credit cards

 

The typical fraudster has no gender, it can be male or women, but usually a fraudster fulfils a finance function or a senior management position. Also they know very well how works the company and they could have more than 10 years working in the company.

The employers in their task to improve their chances of detecting and stopping theft and fraud should :

  • Review financial statements more often
  • Monitor employee actions
  • Follow up complaints
  • Have in place systems for spot-checking transactions
  • Maintain an asset register

Employers should assess their level of risk in front of these situations; they can protect themselves against theft and fraud by including specific clauses in their employment contracts. More advices for the human resources professionals that have to take special notice of employees who:

  • Have problem with drugs, alcohol or gambling
  • Take an unusual interest in certain business areas
  • Have persistent anomalies in their workplace
  • Refuse to take a leave

Anyway when fraud or theft is suspected, the most effective starting point for investigation is an accounting analysis. Experts like accounting in chile can make the accurate study for your company and can give you a guide for the better solutions, also will not be a loss of  your own time in the process.

The next steps to follow are deciding whether to report fraud to police and an interview with the employee.

Don’t matter the step take, one thing will be sure,  the accounting analysis done ,will help your company stick to the truth and face any circumstance without a problem.

11 Effective advertising Ideas

Nowadays, a company that wants to grow and expand requires a marketing plan. This plan developed properly could help to increase the benefits and the activity of our business.

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The next ideas are basic but also effective ways to make our business known:

1 – Advertising on local magazines or newspapers: It may cost a Little amount of money , but it is an effective way to be known in our city or region, the areas where our potential customers live.

 2 – Creating a blog:  This one requires a lot of time and dedication, constancy too. In a long term way, we will enjoy the advantages of being positioned on internet.

 3 – Networking: To make trades with our business partners can boost the influence of our company. Networking it is an easy way to work.

4 – Distribution of leaflets: It is a classic idea but effective too, advertising through leaflets can make us visible. However the leaflets cost money and also we have to be careful with the environment.

5 – Emailing: Through this campaigns that can be free, we target our potential customers and the old customers. What we will need is fresh ideas and messages, so our emails will not be treated like unwanted emails.

6 – Advertising in public places: We can contract specific places like a bus stop or others, but usually this way is expensive. But the investment done can equilibrate the final results.

7 – Meetings and exhibitions: With that way we contact our potential customers. Showing how is the working process and the products we offer, could make us stand differently of another companies.

8 – Corporate alliances: among businesses related with our products or services, could help us to promote our products and get new customers from the another business.

9 – Advertising on the local radio or television: It also may be a cost, but the potential customers can be a lot. The local media is used every day by a lot of people so we can be exposed to many people.

10 – Advertising on webs: There is a huge variety of webs where we can do advertising. Some of them are free, and they offer tools to make this task very easy.

11 – Creating events: With an expert event planning agency we will enjoy the comfort and simplicity to use the last ten ideas just in one. Let experts the tasks of advertising and marketing and focus on your business.

busiYou decide among all the ideas mentioned or simplify them in just one, contacting professionals like the Spanish agency specialising in creative events.

7 steps for improve the payroll function

The payroll function is not only paying your employees, is also one of the functions that can make your company bigger and strong no matter the situation.artwork-797_640

Statistics reveal that the 60% of small businesses manage their payroll in-house and the other 40% outsource the payroll. However the size of your business, we must have an organized and clear payroll system, for avoid penalties and keep our employees paid on time.

The following steps can make you understand briefly, how you can improve your payroll.

Keep your workers classified

Classifying your workers, furthermore than the task they made, classify them as employees by the type of contract they have; independent contractors, full-time employees or interns. Anyway in your country there is a tax guide  specifying how they should be classified.
Set the periods in which your employees are paid

The periods of time your workers are paid it is important and makes the payroll easier; deciding if your employees are paid monthly, weekly or bi-weekly is appropriate for your business.

Specifies wages

Determining how much your employees are paid keeps everything consistent, decides if your employees should be salaried or paid hourly is a long-term benefit. In the case your employees are paid hourly, you will need a system for keep track the time and compensation.

Give ID numbers to your employees

ID numbers are useful for process taxes and make the identification of every worker easier. Nowadays most entities and businesses have ID numbers. The tax service of your country can provide ID numbers and guide you in the process.

Additional benefits instead of wage raises

To give additional benefits to your employees will simplify the tax paperwork. Additional benefits like; additional insurances, stipend for childcare, new objects are some tax-free options you can choose.

Plan a budget

A budget of wages and taxes is essential for avoid unemployment taxes, and keep all the expenses updated. Planning a budget will help you in a long-term way.

Simplify the payroll function acquiring an outsourced payroll service

Stop spending a lot of time and money managing the payroll function, with an outsourced payroll service like payroll in chile.

To choose an outsourced payroll service is better, because we avoid investing in training and payroll software, and we do not have to be under the stress of all the keep in-house functions.

So why not let all the payroll issues with an outsourced payroll service and focus on your business?

Improving the payroll function requires organization, patience and communication, with this steps your business will be more efficient.